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Apple Says TV+ Service Won’t Harm Results, Rebutting Goldman

Tim Cook smiles while speaking about Apple TV+ during an event at the Steve Jobs Theater in Cupertino, California on Sept. 10.
Tim Cook smiles while speaking about Apple TV+ during an event at the Steve Jobs Theater in Cupertino, California on Sept. 10.Photographer: David Paul Morris/Bloomberg
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Apple Inc. said a new video service won’t have a material impact on its financial results, seeking to counter research from a Goldman Sachs analyst who cut his share price target on concern that aggressive pricing of the TV+ offering will trim profit.

Earlier this week, Apple outlined a strategy that involved lower prices on several devices and services, including a monthly cost of $4.99 for TV+. It will also be free for one year with purchases of new Apple devices. This is relatively rare for a company that has historically charged premium prices to support healthy profit margins.